HIVE Orders 1,800 Antminer S19j Pro Miners from Bitmain

Jafrin  |  Aug 13, 2021

HIVE Blockchain Technologies has ordered 1,800 crypto mining machines Bitmain Technologies, a leading crypto mining machine manufacturer in the world.

HIVE Orders 1,800 Crypto Mining Machines from Bitmain

According to an official announcement by HIVE Blockchain Technologies, the company has ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies that have an aggregate hash power of 180 Petahash per second (PH/s).

These 1,800 miners are the first among their 2022 mining purchase program and will be delivered in 6 equal tranches of 300 miners starting from January 2022 through June 2022.

With the latest purchase, HIVE says it’s a continuation of their monthly strategy to increase bitcoin mining capacity that intends to continue in utilizing their cash flow and upgrade their fleet of BTC and ETH mining equipment on a regular monthly basis.

Commenting on the announcement, Frank Holmes, Executive Chairman of HIVE, said:

“This purchase with Bitmain enables us to maintain our strategy to diversify the manufacturers we purchase from. Over the past year, we have been expressing our concerns about global shortages in chips and logistics delays in shipping equipment from Asia due to Covid 19. We have deep relationships with Bitmain, MicroBT, and Canaan which are all top global manufacturers in our industry.”

 Chinese Miners Are Making a Comeback

The global crypto mining industry went through a blackout amid the recent crackdown on crypto mining by authorities in China. Reportedly, Chinese miners are moving to other locations such as Canada, Europe, and the US.

Despite the latest shift, the publicly traded mining company revealed it still continues to hold cryptocurrencies in large amounts:

“Presently we have 25,000 ETH in cold wallets and 875 BTC. We are continuing to HODL all our bitcoins that have been mined with green energy. Our current inventory of coins invested in BTC and ETH is valued at $100 million. As mentioned in our previous press release, our annual run rate at today’s bitcoin prices and difficulty is approximately $220 million. Our next milestone is to hit 1 Exahash in BTC mining by the end of this month.”

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